IRB Infrastructure unit gets financial closure for project

Toll road developer IRB Infrastructure said on Friday its unit has achieved financial closure after it had tied up Rs 8.31 billion in debt for a Rs 11.42 billion project.

February 18, 2011 / 13:48 IST

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Toll road developer IRB Infrastructure said on Friday its unit has achieved financial closure after it had tied up Rs 8.31 billion in debt for a Rs 11.42 billion project.

IRB Tumkur Chitradurga Tollway Private Ltd's road project is financed by Housing Development Finance Corp, IDBI and Bank of Baroda and led by Infrastructure Development Finance Co that provided Rs 5 billion, IRB Infrastructure said.

With this, IRB Infrastructure has completed financial closure for all its road projects awarded by National Highway Authority of India, it said in a statement.

At 12:12 p.m. shares in the firm were trading 4.46% higher in a flat Mumbai market.

first published: Feb 18, 2011 01:41 pm

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